Professional
Added to YB: 2024-06-05
Pitch date: 2024-05-31
NMM [bullish]
Navios Maritime Partners L.P.
+3.39%
current return
Author Info
Lake Cornelia Research Management provides managed accounts and bespoke advisory services to family offices & investment funds. Follow on Twitter/X.
Company Info
Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia.
Market Cap
$1.6B
Pitch Price
$49.46
Price Target
200.00 (+291%)
Dividend
0.38%
EV/EBITDA
5.51
P/E
5.13
EV/Sales
2.77
Sector
Marine Transportation
Category
value
Lake Cornelia Research Management, Inc. - Navios Maritime Partners L.P.
NMM: Cheap 'discount on discount' drybulk/container shipper. Capesize dayrates inflecting on limited supply growth until 2028+. 50%+ discount to NAV, 3x 2024E cash flow with distributions to rise from $0.20 to $20+/sh. Founder aligned w/ $250M stake + IDRs. Target $100 near-term, $200+ multi-year. Key risks: global recession, poor capital allocation
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